Companies reporting next week
RETAILERS will set the tone for corporate news next week, with media and entertainment groups also due to report.
High Street chain Woolworths is expected to show that its revival strategy is continuing to pay off when it unveils full-year results on Wednesday. Pre-tax profits before goodwill and exceptionals are forecast to hit £67.4m, against £52.8m previously.
Fashion chain Next Group shrugged off fears the hot summer would hit sales when it delivered a 6% rise in interim profits in September.
The company said profits growth was driven by both new store openings and improvements to its product range.
On Thursday, Next is expected to deliver pre-tax profits of £342m, compared with £301m last year, with overall sales up 15.8%, Next Directory sales ahead 15.4% and like-for-like sales at stores up by 2.4%.
On Tuesday, full-year results from House of Fraser should be solid rather than spectacular after the department store group experienced broadly flat sales over Christmas.
The owner of Army & Navy and Rackhams resisted the urge to launch price cuts on its designer products, meaning pre-tax profits in the 12 months to January 24 are set to be little changed on the previous year's £26.5m.
While the trading performance is unlikely to set pulses racing, HoF continues to attract bid attention with Icelandic group Baugur and Scottish entrepreneur Tom Hunter among those linked to possible offers.
Housebuilder Barratt Developments looks set to build on its 11-year unbroken record of growth when it unveils half-yearly figures next week. Analysts expect the group to post interim pre-tax profits of £128m, up from £105m, when it updates investors on Wednesday.
Last year the company unveiled a 31% rise in annual profits underpinned by low interest rates, high employment levels and a housing shortage sparked by planning constraints.
Hit Entertainment, the company behind children's TV favourite Bob the Builder, is expected to show a dip in profits when it informs the market of its half-yearly performance on Monday.
Investors will be looking at whether a relaunch designed to revive Bob's popularity picked up flagging sales.
After a period in which the character became a leading consumer products brand, Hit said in October that sales had slipped as he reached maturity in the UK and US. Pre-tax profits are forecast to fall to £23m from £25.5m previously.
Analysts are upbeat about the prospects for building materials specialist Wolseley, despite its warning in January that the weak US dollar may lower sales by as much as £132.8m.
On Monday, pre-tax profits are expected to come in at £255m, compared with £201m last time.
